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Sri Lanka Entrusts China-Built Airport to Indian and Russian Firms: A Strategic Economic Pivot

Sri Lanka to Transfer Airport Administration to Indian and Russian Companies

  • Sri Lanka plans to transfer the operational control of its $209 million Chinese-constructed airport to Indian and Russian corporations.
  • The move aims to minimize financial losses incurred by state-owned industries.
  • Mattala Rajapaksa International Airport (MRIA), funded by China EXIM Bank, has been a subject of controversy since its inauguration in 2013.
  • The airport will be managed by Shaurya Aeronautics (Pvt) Ltd. of India and Airports of Regions Management Company of Russia for 30 years.
  • Sri Lanka is currently in negotiations with China EXIM Bank to restructure the loan for the airport.
  • The airport was constructed under former president Mahinda Rajapaksa, who aligned the country with China.

(The story is published based on the data from a syndicated feed. However there can be minor changes from the original source article.)

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